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Market Analysis

March, 2023

  • 29 March 2023 12:51 am

    T-yields do not ease the pressure on the US dollar.

    The American dollar was not supported by surging Treasury yields. The EUR/USD shifted in the direction of 1.0850. The USD/JPY pair fell back when it encountered resistance near 131.50, while the AUD/USD rose again above the 0.6700 mark.Despite surging Treasury yields, the Dollar Index shows that the US dollar is …

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  • 28 March 2023 11:08 pm

    WTI crude oil jumps beyond $73 on supply worries

    After a decision on an arbitrage between Kurdistan and Baghdad, supply risks stopped 450K barrels of shipments through Turkey. The benchmark prices of US crude oil are supported by a weak US dollar. Although WTI has a neutral to bearish trend, oscillators have recently turned positive, pointing to further potential.Due …

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  • 28 March 2023 9:46 pm

    USD/CHF returns from weekly lows and is getting close to 0.9200

    In the North American session, the USD/CHF recovers from weekly lows of 0.9136 and advances towards challenging 0.9200. The USD/CHF exchange rate is currently trading above its initial price at 0.9199 after reaching a daily high of 0.9226.The USD/CHF pair tested the previous week’s low of 0.9118 earlier in the …

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  • 28 March 2023 7:28 pm

    NY Fed: Expected rent price increase for next year

    In a report published on Tuesday, the Federal Reserve Bank of New York said that the expected rent price increase for next year was at 8.2%, down from 11.5% last year.The news headline doesn’t seem to be impacting the US Dollar’s performance against its rivals. At the time of press, …

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  • 28 March 2023 6:36 pm

    UK Labour urges more partnership with EU, cautious on China

    While the UK Labour Party prepares for a closer connection with the EU if it wins the next election, Prime Minister Rishi Sunak asserts that the UK economy “will return to growth” and applauds the measures in the chancellor’s budget “that will help” to accomplish this. David Lammy, the opposition …

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  • 28 March 2023 5:18 pm

    GBP edges up as BoE says no tension in UK banking system

    Sterling hovered around a two-month high on Tuesday as the Bank of England (BoE) said Britain was not experiencing stress linked to the demise of Silicon Valley Bank (SVB) and Credit Suisse. BoE Governor Andrew Bailey told parliament’s Treasury Committee in a hearing on SVB: “I don’t think that any, …

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  • 28 March 2023 4:15 pm

    Futures edge lower as yields rise amid easing bank contagion fears

    U.S. stock index futures slipped on Tuesday as Treasury yields rose amid easing worries about a banking crisis following First Citizens BancShares’ U.S. regulator-backed deal for failed Silicon Valley Bank. Benchmark 10-year yields rose to 3.545%, weighing on growth stocks such as Apple Inc, Meta Platforms and Alphabet Inc in …

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  • 28 March 2023 1:15 pm

    European stocks continue to recover as banking concerns ease

    Eurozone

    European stocks rose on Tuesday as investors’ hopes of containing the banking crisis revived after a deal to take over the deposits and loans of the collapsed US bank Silicon Valley. The European Stoxx 600 index rose 0.7 percent by 0708 GMT, continuing the rise for the second day in …

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  • 28 March 2023 12:26 pm

    Japanese stocks closed higher, supported by banking stocks

    Japanese stocks ended Tuesday’s trading higher, supported by the rise of bank stocks, following the easing of concerns about the global financial system after a deal in which First Citizens Bankers would acquire the assets of the collapsed US Silicon Valley Bank. The Nikkei index rose 0.15 percent to close …

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  • 28 March 2023 11:53 am

    Oil moves within narrow range on supply concerns, banking sector fears

    Oil prices moved in a narrow range during early Asian trading on Tuesday, after rising in the previous session, as oil markets focused on developments in the banking crisis, concerns about supply, and indications of increased demand. Brent crude futures fell two years to $ 78.10 a barrel at 0018 …

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  • 28 March 2023 6:08 am

    Market Drivers – US Session 27/03/2023

    The week has generally started off quietly and optimistically on the financial markets. Due to a lack of any significant economic news during the US session on Monday, the Dollar Index (DXY) seemed unable to gain from higher T-yields.Key Developments On Monday, the DXY lost gains and fell under 103.00 …

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  • 28 March 2023 5:52 am

    Is gold’s comeback difficult amid higher Treasury yields?

    In an effort to break a two-day downturn, the price of gold is slightly bid lately. Treasury bond rates rise as a result of easing bank problems, but not all bond bears are siding with XAU/USD bulls. The hesitation of Federal Reserve policymakers to support rate increases boosts the risk-on …

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  • 28 March 2023 4:29 am

    Ethereum attempts to cope with Bitcoin ahead of Shanghai upgrade

    Ethereum’s large wallet investors have been buying ETH tokens consistently for the past week. The total value locked in the Ethereum deposit contract hit a new all-time high ahead of the Shanghai upgrade which is less than a month away. The Ethereum network has seen a resurgence in demand from …

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